Welcoming the announcement, the Minister for Business, Enterprise and Innovation, Ms. Heather Humphreys T.D., said “Mastercard’s decision to expand here is an important landmark and I warmly welcome the new jobs that are coming with the announcement. The Government has been working hard to ensure that we have the right conditions in place to attract the knowledge-based sectors to Ireland, in particular a skilled workforce that can fill the needs of companies like Mastercard. Ireland is now a very attractive location for international FinTech and payment companies from all over the world and announcements like this one today illustrate that our policies are continuing to deliver tangible results.”

Mastercard’s Leopardstown office currently houses 380 staff. It is the global headquarters of Mastercard Labs, the company’s research and development arm, which is dedicated to bringing innovative payment solutions to market at speed.

Innovations created by Mastercard Labs are pushing the boundaries of what’s possible in payments and beyond. Virtual and augmented reality experiences that will transform the way we shop and bring stores into the living room, while chatbots enabled with payments technology will allow consumers to book flights or order a takeway without leaving a messaging app.

Teams in Dublin are exploring a range of blockchain solutions, as well as using Artificial Intelligence to help secure payments. QR payment solutions that could transform payments in the developing world have been created in Dublin, as well as innovations in solar power that will bring electricity to millions who live without it.

The office is also the hub of Mastercard’s business in Ireland, working with banks and credit card issuers to deliver convenient, safe and secure payment services to consumers and businesses across Ireland.

Ken Moore, executive vice president and head of Mastercard Labs added: “Ireland is the heart of our global innovation efforts – throughout Mastercard, Dublin is admired as a key technology hub - we’re looking to replicate the innovation culture we’ve fostered here in our offices around the world. The vibrant culture we have here makes it the perfect place to recruit for these highly-skilled roles. We need great minds who can look outside of Mastercard’s traditional payments expertise and create solutions to benefit our customers around the world, and I’m excited to grow our business here.”

The creation of these new jobs follows Mastercard’s recent announcement that it would bring its digital and physical payment teams under one organisation. The newly-formed Products and Innovation team will bring core products, digital payments, Mastercard Labs and processing activities together.

Mastercard has taken on more space at its Mountainview headquarters in Leopardstown and has signed a lease until 2026, to accommodate growing numbers of staff. Since the opening of its Irish office in 2008, the number of people employed by Mastercard in Dublin has increased by 880%.